Intel Generated $13.3 Billion In Revenue But Lost $16.6 Billion

Expert Verified By

Tech Giant Still Recovering From Its Mistakes!

Story Highlight
  • Intel reported a revenue of $13.3 billion, which reflects a 6% decline year-over-year.
  • The Client Computing Group (CCG) faced a revenue decline of 7% to $7.3 billion, while the Data Center and AI division saw a 9% increase to $3.3 billion.
  • Intel projects Q4 revenues of $13.3–14.3 billion and is implementing cost-cutting measures, including workforce reductions and simplifying product lines

Today, Intel published its financial report for the third quarter of 2024. Although there is still a lot of tension in the situation overall, numerous data points exceeded analysts’ forecasts, and the stock price likewise rose, climbing by 15%.

Intel’s third-quarter overall revenue was $13.3 billion, a 6% year-over-year decline, while the company’s loss per share was $0.46, down from $0.87 per share during the previous year.

Why it matters: Intel’s financial performance and strategic initiatives reflect its efforts to survive in a challenging market and regain competitiveness, which is crucial for its long-term growth and stability in the tech industry.

Image Via: Intel

The CCG client computing division, which is primarily based on Core processors, generated US$7.3 billion in revenue, a 7% year-over-year decline.

The DCAI data center and artificial intelligence division, which primarily uses Xeon processors and Gaudi accelerators, generated US$3.3 billion, a 9% YoY increase; the NEX network and edge division generated US$1.5 billion, a 4% YoY increase.

Additionally, Altera’s FPGA sector generated US$412 million in revenue, a significant 44% decrease from the previous year. Intel has already reached out to potential investors in an attempt to sell it.

Revenue for Mobileye’s autonomous driving branch was $485 million, an 8% decrease from the previous year.

To turn losses into profits, Intel anticipates revenue of $13.3–14.3 billion, a gross margin of 39.5%, and earnings per share of $0.12 in the upcoming fourth quarter. 

Significant progress has also been made in Intel’s $10 billion cost-cutting plan, which includes: ending the majority of layoffs, reducing the workforce by 15% by the end of the year; and simplifying product lines.

Was our article helpful? 👨‍💻

Thank you! Please share your positive feedback. 🔋

How could we improve this post? Please Help us. 😔

Gear Up For Latest News

Get exclusive gaming & tech news before it drops. Sign up today!

Join Our Community

Still having issues? Join the Tech4Gamers Forum for expert help and community support!

Latest News

Join Our Community

104,000FansLike
32,122FollowersFollow

Trending

EA Has Canceled Black Panther Game And Closed Cliffhanger Studios

According to a new report, EA has canceled its Black Panther game announced in 2023 and closed the studio associated with it.

Corsair Launches ONE i600 Compact Pre-Built PC

The CORSAIR ONE i600 is a compact high-performance PC featuring GeForce RTX 5080, Intel Ultra 9 CPU, dual 240mm liquid cooling, and 64GB DDR5.

Cyberpunk 2077 Sequel Has Entered Pre-Production Phase

CD Projekt Red has just recently revealed that the Cyberpunk 2077 sequel, Project Orion, has entered pre-production phase.

Elden Ring Nightreign Review Roundup – FromSoftware’s Flawless Streak Broken

Elden Ring Nightreign has received its first reviews, and the game seems to be a rare dent in FromSoftware's perfect legacy.

A Variety Of Unannounced Games To Be Revealed During Xbox Showcase 2025, Says Insider

A reliable insider claims that Xbox is aiming to reveal a plethora of unannounced games during the upcoming June Xbox Showcase 2025 event.